Shafaq News / The financial adviser to the Iraqi government, Mazhar Mohammed Saleh, explained on Wednesday that the ratio of cash credit to total deposits in private banks may be close to the standard rate of 75%, which banks should reach or at least approach.
Saleh added to Shafaq News that deposits are the basics of traditional banking.
He explained that the market share of 63 private banks does not exceed 15% of credit and deposit operations, while the government banking system accounts for 85% of banking activity.
In the same context, the International Development Bank announced the opening of investment deposit accounts with the aim of serving Iraqi families.
The bank explained, in a statement received by Shafaq News, that these accounts offer returns of up to 10% per year, with monthly payment and cash prizes within monthly draws, and deposit holders also receive free life insurance, facilities to obtain a deposit guarantee loan, and a free credit card.
The bank stressed that the funds will be used in the service of the national economy, with a guarantee from the Iraqi Company to guarantee the deposits authorized by the Central Bank of Iraq, noting that deposits are one of the most important sources of funds at the level of the national economy and depositors.
Economic statistics show that the number of government banks in Iraq is 7, while the number of private banks reaches 74, which means that private banks constitute 91% of the total number of banks in Iraq.
https://shafaq.com/ar/اقتصـاد/مستشار-حكومي-يشير-لى-ضعف-نسبة-الا-تمان-النقدي-في-المصارف-ال-هلية
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